Steve Jobs And Jeff Bezos Used History As A Powerful Tool. You Should Too.
When executives face big decisions, they usually try to gather data. However, they know that forecasts are often flawed. Hence, they rely on their own experience and the experience of others. History is a great way for them to expand their field of vision, drawing from a much wider pool of experiences.
Steve Jobs, for example, referred to Leonardo da Vinci when he explained why great ideas emerge at the intersection of art and science. And he extensively studied the rise and fall of giants like Xerox to prevent Apple suffering a similar fate. His Amazon counterpart, Jeff Bezos, was inspired by Walmart founder Sam Walton's obsession with customers and hands-on-approach.
When you recognize patterns in history, they can inspire new ideas, help you to avoid mistakes, and become a powerful way to communicate your ideas.
Pattern Recognition
In the mid-fifteenth century a gunner named Orban offered his services to the Byzantines who ruled Constantinople. The use of cannons was still relatively new and the benefits less obvious. As the Byzantines had high walls that nobody had toppled before, this innovation seemed unnecessary. So they offered Orban a rather meagre salary.
Unimpressed, he decided to seek out Mehmed II of the Ottoman Empire instead. The Sultan was more desperate as the Empire's previous attempts to take Constantinople had failed. So the gunner got his chance. Sixty-nine regular cannons and dozens of catapults started their bombardment on April 12th 1453 and the city fell just 47 days later.
This story features in Scott Anthony's captivating new book on 11 disruptive innovations that shaped the modern world. It's a powerful reminder that incumbents often miss the benefits of disruptive new innovations—in this case gunpowder. The broader lesson from the book is that looking at history we can find patterns that often seem less obvious if we only consider current developments.
Learning from Mistakes
In 1964 Shell hired McKinsey to develop a new organizational structure. One of the recommendations was to install an American-style CEO. Shell declined, remembering the potential downside of having a powerful leader like Henry Deterting, the architect of the 1907 merger between Royal Dutch and Shell Transport and Trading. Later in life, Deterting saw Adolf Hitler as the only politician capable of stopping Communism. Luckily, he retired in 1936 and moved to Germany, before making any commitments that would have embarrassed the company later on.
The company had learnt that in a politically sensitive industry, having a board of executives building consensus is often advantageous. For decades it kept this rather unusual arrangement. In a study of companies surviving and thriving for over a hundred years, I found that one of their characteristics was this ability to remember past mistakes.
Obviously, this kind of learning is not restricted to your own mistakes. Follow Steve Jobs' example and pick a fallen giant in your industry. It's an effective way to avoid some of the pitfalls awaiting you.
Communicating Plans
History can also help executives to rally the troops. Current Apple CEO Tim Cook does this frequently when he invokes Steve Jobs' legacy. This way he can frame new innovations as a continuous journey started by the firm's legendary founder. Many companies with legendary founders—think HP or Walmart—use history in a similar manner.
Another occasion when history comes in handy is in moments of crisis. Politicians do this frequently, knowing that painful reform is hardly popular. In the corporate world, Chrylser CEO Lee Iacocca, drew analogies to the Great Depression during one of the most dramatic turnarounds in US history.
Learning from history
History might seem stuffy and irrelevant but smart executives like Jobs and Bezos understood that the lessons they can pick up helps them to avoid similar mistakes.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Forbes
37 minutes ago
- Forbes
Luxury Brands And Social Impact: Leadership Is In The Genes
Luxury Brands And Social Impact: Leadership Is In The Genes Promoting sexual imagery while raising awareness for domestic violence is at the center of the controversy surrounding the Sydney Sweeney and American Eagle's 'great jeans' campaign and subsequent backlash. The American Eagle Outfitters' campaign may be generating massive awareness, but other iconic fashion brands are redefining what it really means to lead on social impact. These brands aren't treating social impact as a marketing opportunity, they are approaching it with authenticity, lived experience, and measurable results. And doing so in a way that isn't generating controversy because it genuinely reflects the DNA of their companies. One example is Ralph Lauren's "Oak Bluffs" collection which tapped into the sense of home, safety, connection, and nostalgia that generations of Black families have had for Oak Bluffs, a town on Martha's Vineyard known for its significance to Black Americans. What made it authentic is that the team behind it lived the story they were telling: the collection was crafted by those who intimately understood the cultural weight it carried and created with knowledge based on lived experiences. Coach, one of the most iconic American fashion brands, is proving that when done with authenticity and measurable outcomes, social impact can be more than just a brand-building exercise. The Coach Foundation's Dream It Real initiative is supporting historically under-resourced young people as they pursue their dreams and is getting results. I wanted to know how the Coach Foundation is having an impact on the lives of young people and bringing authenticity to an industry that has, as my Forbes colleague Christopher Marquis observed, long been synonymous with excess. To find out why its approach is fundamentally different from the short-term, image-driven efforts that dominate much of the luxury fashion industry, I spoke with three people who are central to the organization's work with youth. Julia Furnari, Executive Director of the Coach Foundation, Jessica Pliska, Founder and CEO of The Opportunity Network (OppNet) and Puspita Esha, a grad student at Baruch College and Dream It Real Scholar. For Julia Furnari, the work is personal. 'My brother was born with a physical disability and community and social impact was part of who we were growing up,' she told me. 'Every week we were at different hospitals for different surgeries and procedures. I made it my life's mission to combine business and doing good.' Furnari started her career in merchandising with a goal: to reach a place where she could lead a corporate foundation. Today, she heads the Coach Foundation and is scaling Dream It Real globally. 'With many fashion brands, it's mostly about marketing their products,' Furnari said. 'In our case, we've been operating this foundation for a long time with one goal and one mission: to advance young people and provide opportunity.' According to Funari, Coach was founded in a New York City loft in 1941 by two people who had an ethos of striving and dreaming and thinking about the modern American dream. 'When we started the foundation in 2008 we set out to create lasting change for young people that connected to the DNA of our brand.' When the foundation launched, Coach grounded its strategy in research. Ten-year studies from the Gates Foundation and guidance from Rockefeller Philanthropy Advisors revealed a stark reality: there's a drastic drop-off in education after high school for young people from low-income and under-resourced backgrounds. That data shaped the foundation's approach—providing scholarships and mentorship to help students not just enroll in college but also succeed in their careers. The Coach Foundation's model is working. 'Dream It Real is a first-of-its-kind scholarship program that matches every student with a mentor at Coach,' Furnari said. 'We're seeing graduation rates of 97% compared to 21% for their peers and 94% of Dream It Real scholars are first-generation college students who graduate with 88% less debt than the national average." Because Coach operates with an endowed foundation, the commitment isn't tied to annual sales or market trends. 'This is not about good business or being cool with Gen Z,' Furnari said. 'This ties to our founding story and is about our mission to uplift the next generation and create change in the world.' Importantly, the Coach foundation doesn't sit in the company's marketing department. 'There are brands who say buy from us because a percentage is going to a charity,' said Funari. 'We're giving away millions of dollars a year because we believe it's the right thing to do and because we are so passionate about the impact data that we see in our programs.' The Opportunity Network (OppNet) was founded in 2003 by Jessica Pliska to help students from under-resourced communities overcome barriers to college and career opportunities. 'Anybody who knows me will not be surprised to know I started an organization that's really built on the foundation of the power of networks for mobilizing social capital and career and economic mobility,' said Pliska.'We have a real workforce shortage in this country across a very broad range of sectors and we help our students prepare for opportunities where they can fill those gaps.' Pliska shared that OppNet has partnerships with many companies but the way that leaders at Coach lean into their social impact strategy is unusual. 'When our students spend time with their CEO Todd Kahn they have things in common. Todd is a first generation college student and there is a remarkable authenticity from his perspective. He wants to hear about how Coach has been helpful with the challenges that students are facing.' That authenticity extends to responsiveness and action. When Pliska told Kahn that internships and career skills aren't guaranteed outcomes of a college degree, his answer was 'we need to be doing this.' Now there is an OppNet student intern at Coach. 'College scholarships and college education have nothing to do with the Coach brand,' Pliska noted. 'There are many causes they could align with that would have a clearer line of sight to their bottom line. But they've chosen this because it's the right thing to do.' OppNet has a relationship with Coach that's built on trust and shifts the power dynamic that often defines corporate philanthropy. 'With Coach, we have real conversations about what's working and what's not,' she said. 'That's helped create a partnership where we can trust our voice and have confidence that you're not going to lose anything as a charitable partner.' According to Pliska, the shared commitment that Coach and OppNet have to creating opportunities for young people could be a model for how nonprofits partner with corporations. 'And by that I mean long term, trust based, shifting of the power dynamic, and senior leaders really leaning in,' said Pliska. Puspita Esha is a graduate student at Baruch College and a Dream It Real Scholar. For Esha the program has been transformative. 'I wouldn't have been able to afford my first semester of tuition if it weren't for the grant money from Dream It Real. They also connected me to mentors, job opportunities, and career counselling.' Esha's introduction to the program came in high school through OppNet. "I was actually recruited to OppNet by my guidance counsellor. I knew I was lacking some of the resources that I needed to be successful and I went to the info session and really connected with the people at OppNet. They connected me to Dream It Real and helped with the smooth transition to my mentor from Coach.' Her mentor from Coach had experience that straddled both accounting and entertainment—her two potential career paths at the time. 'We clicked so well that we met more than expected,' Esha said. 'I was getting the support I needed, plus job shadow days and Dream It Real events where I could connect with other students, mentors, and employees.' The human connection is one of Esha's favorite aspects of the program.. 'People always say it's about the people—and that's exactly what I was getting from Dream It Real. Now, a group of us stay in touch, meet for lunch, and update each other on our careers.' Mentorship, she added, is a two-way street. Her mentor, a seasoned accountant, had never considered getting a second degree until their conversations inspired her to explore graduate school. 'Not only is she helping me, but I'm also affecting her,' Esha said. 'That's something you don't see often—everybody is learning.' Esha hopes other companies take notice. 'I think Coach is setting a precedent for what luxury brands or other companies should be doing. They are doing more than just giving out free money to students. They are connecting with their students one on one. I'm one of a few grateful students that get to connect with Coach, and I'm hoping more students get the same opportunity with Coach and other companies as well.' Companies such as American Eagle Outfitters are trivializing important issues such as domestic violence by being intentionally provocative for the purpose of driving transactional brand awareness and sales. Coach's approach to social impact is grounded in five factors that reflect the company's authentic commitment to transforming the lives of young people. Data-Driven Focus: Dream It Real's program is informed by independent research and measurable outcomes—not marketing trends. Deep Integration into Company Culture: With 250 employees actively engaged as mentors for four years, social impact is part of how the company operates. Trust-Based Partnerships: Nonprofit partners such as OppNet are treated as equal collaborators, not just recipients of charity. Endowed, Perpetual Funding: By decoupling social impact from annual business performance, Coach ensures its commitment isn't vulnerable to shifting market conditions. Long-Term Commitment: Coach invests in multi-year student journeys rather than one-off campaigns. The Coach Foundation has an ambitious goal of awarding 10,000 scholarships by 2030 and recently announced a transformative $20M investment to advance opportunities for under-resourced young people. 'We do the work because it's the right thing to do, not to gain customers,' said Funari. 'And, we will continue to do the work in perpetuity.' American Eagle Outfitters is getting headlines, but other luxury brands such as Coach are re-defining leadership by approaching social impact in a way that is truly in their genes.
Yahoo
2 hours ago
- Yahoo
Mark Zuckerberg expands his $300M Hawaii compound by 1K acres, reports say — why it's triggering frustration with locals
Mark Zuckerberg is doubling down on his massive piece of paradise. The Meta CEO is reportedly expanding his sprawling $300 million compound in Hawaii by an additional 1,000 acres, according to *Wired.* The tech billionaire's aggressive dealmaking spree on the tiny island of Kauai has drawn both support and backlash from the local community. Here's why the moves are so controversial and the lessons it offers for real estate investors. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Reshaping Hawaii Since their arrival in 2014, Mark Zuckerberg and Priscilla Chan have invested a total of $311 million on the island estate. Some of that money has gone to farming and environmental conservation efforts, spokesperson Brandi Hoffine Barr told Wired, while some has gone to local non-profits and charter schools. Construction on the property has also created many new jobs for locals, according to the New York Post. However, some locals and government officials have also confirmed the presence of multiple burial sites on the estate, as per Wired. Hawaiian regulations require the reporting of such burial sites, but some worry that the nondisclosure agreements signed by workers could complicate that process. For others, this is an early indication of how the presence of one of the world's richest families is influencing the local culture and heritage of a relatively small community. 'If our island has any hope of remaining Hawaii, this kind of activity has got to stop,' Puali'i Rossi, a professor of Native Hawaiian studies at Kauai Community College, told Wired. 'Eventually Hawaii isn't going to look like Hawaii anymore — it's going to be a resort community. Are we really thinking about 100 years from now, what this island is going to look like?' The ongoing saga offers some key lessons for ordinary real estate investors. Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Lessons for investors The backlash to Zuckerberg's aggressive landbanking should raise red flags for regular investors. Whether you're buying thousands of acres of beachfront property or a small farm in Nebraska, the future of the community matters just as much as the value of the land. Before buying property or investing in a real estate investment trust, consider not just the current economic dynamics but also the long-term outlook for the location you're targeting. If the local community is unhappy about the rise of short-term rentals, growing influence of billionaire neighbors, or noise from data centers, for example, these frustrations could turn into new zoning rules or regulations that impact your investment. For instance, Hawaii State Senator Brenton Awa has already responded to public backlash on rising home prices by proposing a potential ban on foreign buyers and corporations, according to ABC News. Meanwhile, the Maui City Council is moving forward with plans to phase out nearly half of the island's short term rentals, according to KITV. This is why gauging local sentiment, understanding culture and heritage and anticipating regulation shifts is an important part of the real estate investment process. You could attend local council meetings, public hearings or talk to local neighborhood association representatives to get early indications of these risks. What to read next Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Here are 5 simple ways to grow rich with real estate if you don't want to play landlord. And you can even start with as little as $10 Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Yahoo
2 hours ago
- Yahoo
Mark Zuckerberg expands his $300M Hawaii compound by 1K acres, reports say — why it's triggering frustration with locals
Mark Zuckerberg is doubling down on his massive piece of paradise. The Meta CEO is reportedly expanding his sprawling $300 million compound in Hawaii by an additional 1,000 acres, according to *Wired.* The tech billionaire's aggressive dealmaking spree on the tiny island of Kauai has drawn both support and backlash from the local community. Here's why the moves are so controversial and the lessons it offers for real estate investors. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Reshaping Hawaii Since their arrival in 2014, Mark Zuckerberg and Priscilla Chan have invested a total of $311 million on the island estate. Some of that money has gone to farming and environmental conservation efforts, spokesperson Brandi Hoffine Barr told Wired, while some has gone to local non-profits and charter schools. Construction on the property has also created many new jobs for locals, according to the New York Post. However, some locals and government officials have also confirmed the presence of multiple burial sites on the estate, as per Wired. Hawaiian regulations require the reporting of such burial sites, but some worry that the nondisclosure agreements signed by workers could complicate that process. For others, this is an early indication of how the presence of one of the world's richest families is influencing the local culture and heritage of a relatively small community. 'If our island has any hope of remaining Hawaii, this kind of activity has got to stop,' Puali'i Rossi, a professor of Native Hawaiian studies at Kauai Community College, told Wired. 'Eventually Hawaii isn't going to look like Hawaii anymore — it's going to be a resort community. Are we really thinking about 100 years from now, what this island is going to look like?' The ongoing saga offers some key lessons for ordinary real estate investors. Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Lessons for investors The backlash to Zuckerberg's aggressive landbanking should raise red flags for regular investors. Whether you're buying thousands of acres of beachfront property or a small farm in Nebraska, the future of the community matters just as much as the value of the land. Before buying property or investing in a real estate investment trust, consider not just the current economic dynamics but also the long-term outlook for the location you're targeting. If the local community is unhappy about the rise of short-term rentals, growing influence of billionaire neighbors, or noise from data centers, for example, these frustrations could turn into new zoning rules or regulations that impact your investment. For instance, Hawaii State Senator Brenton Awa has already responded to public backlash on rising home prices by proposing a potential ban on foreign buyers and corporations, according to ABC News. Meanwhile, the Maui City Council is moving forward with plans to phase out nearly half of the island's short term rentals, according to KITV. This is why gauging local sentiment, understanding culture and heritage and anticipating regulation shifts is an important part of the real estate investment process. You could attend local council meetings, public hearings or talk to local neighborhood association representatives to get early indications of these risks. What to read next Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Here are 5 simple ways to grow rich with real estate if you don't want to play landlord. And you can even start with as little as $10 Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
